The previous occupant of the space a a community college.  

Typically banks want to see that a property has a certificate of occupancy, or that it is generating income, before they will lend on it.There are so many more reasons that you or someone else you know may need a private money loan this year.

What are the occupancy requirements in your area, if any?

Hello BP folks, I would like some advice on potential property, here is my background and details.  I would move out of my current home and live in 4-plexCurrently living situation is SF homeMortage - 1,000 (with HOA ...

However, nuisances which violate tenants rights of quiet enjoyment, and interfere with the comfort, convenience, or health of an occupant include foul odors, noxious gases, and smoke...

I'm getting married in August and my fiancée will be finishing graduate school in May (Occupational Therapist).

This takes planning ahead of time.4) if the borrower is a veteran they can use VA financing as VA does not have a 100+ mile rule either to purchase another primary residence for using rental income offset on the vacating home.5) the borrower can also qualify for both homes but on the new purchase they can bring in a co-borrower that will be an occupant in the new home.

Anyone having tenancy in the unit, over age of 18 is screened, criminal background check per person is what your looking at,,if one of them don't meet criteria then you have to reject the application..Credit wise you combine the 2 incomes to see if they meet the credit criteria,, one may have good credit / income,, one may not... but combined they still would need to meet the criteria set.A person, even a child is a tenant,, they are listed on lease as minor child , date of birth.If your criteria is 2 people and the couple has a child,, then they would not qualify for the unit they are OVER occupancy.. 

Tenant shall comply with any and all laws, ordinances, rules and orders of any and all governmental or quasi-governmental authorities affecting the cleanliness, use, occupancy and preservation of the Premises. 

To me the multifamily is less risky because I only buy at a deep discount and I don't have to have 100% occupancy to be profitable.